Latest Property Headlines
All the headlines from our Property Topic Page, ordered by recency.
Ariz. DOI Establishes Rate Limits for Credit Property and Credit Unemployment Insurance
Oct 23 2003 // On Oct. 15, 2003, Director of Insurance, Charles Cohen, issued an order that establishes loss ratio standards and rate limits for credit property and credit unemployment insurance products offered to Arizona...
CIAB: Q3 Marks Return of Competitive Pricing
Oct 23 2003 // The commercial insurance marketplace witnessed a return to competitive pricing for a number of lines during the third quarter of 2003 and flattening or decreasing premiums for commercial property coverage, according to the...
London American Becomes Preferred Facility for “A:XV” Insurer
Oct 22 2003 // London American General Agency Inc. announced that effective immediately they are a “Preferred” Commercial Property/Casualty Underwriting Facility for an “A:XV” insurer. The underwriting authority...
Super Bowl Fever’
Oct 20 2003 // For some, Houston is the place to be on Feb. 1, 2004, when the Super Bowl comes to town. As such, many Houstonians may succumb to the temptation to make money off of football fans by renting their homes to out-of-town Bowl...
Commentary on First Half 2003 Results
Oct 20 2003 // The property/casualty insurance industry reported a statutory rate of return of 9.7 percent in the first half of 2003, up from a disappointing 1.0 percent in 2002 and the worst-ever negative 2.4 percent recorded in 2001....
Is Late Notice Ever a Defense in Texas’
Oct 20 2003 // The notice condition in general liability policies requires that the insured provide the insurer with timely notice of any potential occurrence and the receipt of suit papers. Failure to give proper notice of either of...
ISO Reports Insurers’ Q3 CAT Losses Estimated At $2.9 Billion
Oct 14 2003 // Insurers are expected to pay $2.9 billion to homeowners and businesses for insured property losses from seven catastrophic events in the third quarter of this year — up more than 300 percent from the year-ago period —...
NYSID Reviews N.H. Terrorist Coverage
Oct 13 2003 // New York’s Superintendent of Insurance Gregory Serio announced that a review of terrorism coverages offered by New Hampshire Insurance Company to brownstone property owners has resulted in an agreement with the...
Travelers Property Casualty Unveils ‘Hidden Hazards’ Fire Safety Education Program
Oct 6 2003 // Travelers Property Casualty Corp. will sponsor a public television documentary on fire safety, which will premiere in November on Connecticut Public Television and be available to other stations across the country next...
BOPs, The Small Business Shield
Oct 6 2003 // Like a fine wine, BOPs seem to be getting better with age. Long the marketplace standard of property and liability insurance for small businesses, BOPs, known more formally as Business Owners Package policies, have...
Designing an Internal Perpetuation Plan
Oct 6 2003 // Perpetuation planning should begin as soon as the business is acquired. While immediate action is not necessary, there should be initial consideration given to the process. The four major techniques to transfer ownership...
BOPs, The Small Business Shield
Oct 6 2003 // Like a fine wine, BOPs seem to be getting better with age. Long the marketplace standard of property and liability insurance for small businesses, BOPs, known more formally as Business Owners Package policies, have...
ACE Bermuda Promotes Chris Fisher to Senior VP
Oct 2 2003 // ACE Bermuda Insurance Ltd. announced the promotion of Chris Fisher to the position of senior vice president in its property department. He takes on responsibility for the management of ACE Bermuda’s global property...
$14.5 Billion First Half Profit for P/C Industry
Sep 30 2003 // The U.S. property/casualty industry’s net income after taxes rose to $14.5 billion in first-half 2003 from $4.4 billion in first-half 2002, as both underwriting and investment results improved, according to Insurance...
Safeco Sells Life & Investments to Focus on P/C Insurance
Sep 30 2003 // Aiming to be one of the top-performing companies in its sector, Safeco unveiled a new corporate structure with a clear focus on delivering Property & Casualty insurance products. As a result, Safeco intends to sell...
GlobeXplorer, CDS Business Mapping Partner to Provide Online Aerial Photography in Ins. Analysis
Sep 18 2003 // Walnut Creek, Calif.-based GlobeXplorer LLC announced an agreement with CDS Business Mapping LLC to provide online aerial photography for CDS’ insurance analysis packages. GlobeXplorer is a wholly-owned subsidiary of...
As Isabel Heads for N.C., Commissioner Urges Storm Readiness
Sep 17 2003 // With Hurricane Isabel threatening North Carolina’s coast, Insurance Commissioner Jim Long today released a comprehensive list of consumer tips to address questions frequently encountered by North Carolinians...
Check Home Cover in Path of Isabel
Sep 17 2003 // Property owners on the Atlantic seaboard who are bracing themselves for Hurricane Isabel should check their insurance coverage and take some basic precautions to secure their homes or businesses, advised the National...
N.J. DOBI Issues Guidelines on Mold/Fungus Exclusions
Sep 11 2003 // New Jersey Insurance Commissioner Holly C. Bakke has issued a bulletin to all NJ P/C Insurers giving guidelines on Mold/Fungus Exclusions for personal and Commercial lines. The bulletin, No. 03-24, replaces a previous set...
How do you Spell Relief’ Surplus Lines
Sep 8 2003 // Premium growth continues unabated for surplus line carriers, the insurance industry’s relief pitchers. They find themselves the beneficiaries of a standard marketplace still skittish about placing risks in lines...
